Privately owned TTI has just 14 employees, selling hydraulic torque wrenches as well as pumps and accessories to ensure joint integrity under great pressure seen on oil rigs, wind farms, ship yards and bridges.

“This acquisition is a strategic fit as it expands our offerings of superior bolting solutions to more customers in segments like oil and gas and power generation,” Atlas Copco president industrial technique business area Mats Rahmstrom said.

“This increases our channels to the market and gives greater access for our customers to our products and services.”

TTI will become part of the Chicago Pneumatic Tools division within Atlas Copco, with the deal expected to be finalised early next year.